PfP Capital describes equity investment as ‘big but logical step’ and suggests PRS fund could be replicated across affordable, build to rent, student and retirement housing.
London housing association London and Quadrant (L&Q) has led the charge into the first tranche of UK government-guaranteed private rented sector (PRS) funding as operator Venn Partners awaits the build out of £700m of credit-approved schemes in its pipeline.
Housebuilders have more nimble capital structure and proactive approach to market conditions, while housing associations can flex activity and benefit from ‘extraordinary’ support of UK government, says Moody’s.
A government-backed private rented sector (PRS) funding aggregator has launched a debut £265m bond, with £90m retained for later sale, at a coupon of 1.75 per cent.
A government-backed private rented sector (PRS) funding aggregator has set off on an investor roadshow with a view to a £265m maiden bond issuance.
Credit ratings agency Standard and Poor’s (S&P) has downgraded two associations and placed two others on negative outlook due to its concerns about sales risk.
The English social housing regulator has reiterated the risks of market exposure amid its forecasts for sales activity to represent 30 per cent of the sector’s total income by 2018.
Thames Valley Housing reaped the rewards of commercial investments in 2015/16 and saw another vote of confidence in its Fizzy business as its Abu Dhabi investor doubled its commitment to £400m.
Ratings agency says low rate environment could offer good time to borrow depending on ability to carry debt and how it is being used.